Many of us who are active in the business transition planning space have been saying for years that a market change is coming and that Baby Boomer owners of lower middle-market businesses (with annual revenues between $5 million and $100 million) need to get their businesses positioned accordingly. Of course, a global pandemic wasn’t the change we had in mind. But that’s what we got.

Some Baby Boomer owners had started the business transition planning process only to find now that a shift in Market Readiness has severely affected the anticipated end result of their plans. Others put off the business transition planning process. The “new reality” leads to the underlying question: Can disappointed Baby Boomer business owners muster the resilience required to create and implement a successful business transition plan and, if so, how?

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